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of <h1>New Income Tax Bill 2025 Introduces Dispute Resolution Committees for Specified Order Variations, Penalty Reductions, and Immunity</h1> The Central Government will establish Dispute Resolution Committees under the Income Tax Bill, 2025, for individuals or groups opting for dispute resolution related to variations in specified orders. These committees can modify variations, reduce or waive penalties, or grant immunity from prosecution under prescribed conditions. Upon receiving the committee's order, the Assessing Officer must adjust the assessment, reassessment, or recomputation within a month. A 'specified order' involves variations not exceeding ten lakh rupees, excludes orders based on certain searches or information, and pertains to cases where the taxpayer's declared income does not exceed fifty lakh rupees.
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